The COP30 presidency on Wednesday released the ‘Baku to Belem Roadmap to 1.3 Trillion’, a global plan to raise and channel at least USD 1.3 trillion every year by 2035 to help developing countries deal with the growing impacts of climate change and shift to cleaner economies.
The report says this level of funding is now “a necessity, not an option” and aims to turn finance promises into real action to help poor and climate-vulnerable nations access money for renewable energy, adaptation and rebuilding after climate disasters.
The roadmap builds on the agreement reached last year at COP29 in Baku, where countries had called on “all actors”, including governments, banks and businesses, to work together to mobilise USD 1.3 trillion annually by 2035 under the new global climate finance goal.
The document does not set new rules or create new funds. Instead, it acts as a guide to align existing institutions such as multilateral development banks, climate funds and private investors to …
​The COP30 presidency on Wednesday released the ‘Baku to Belem Roadmap to 1.3 Trillion’, a global plan to raise and channel at least USD 1.3 trillion every year by 2035 to help developing countries deal with the growing impacts of climate change and shift to cleaner economies.
The report says this level of funding is now “a necessity, not an option” and aims to turn finance promises into real action to help poor and climate-vulnerable nations access money for renewable energy, adaptation and rebuilding after climate disasters.
The roadmap builds on the agreement reached last year at COP29 in Baku, where countries had called on “all actors”, including governments, banks and businesses, to work together to mobilise USD 1.3 trillion annually by 2035 under the new global climate finance goal.
The document does not set new rules or create new funds. Instead, it acts as a guide to align existing institutions such as multilateral development banks, climate funds and private investors to …Â by Soban News (international And National News)
